Stock Market Today: All You Need To Know Going Into Trade On May 4
Stocks rose and bonds remained under pressure Wednesday as investors geared up for biggest U.S. Federal Reserve interest rate-hike since 2000 and awaited cues from the central bank for tackling inflation.
Equities advanced in Australia and South Korea, while S&P 500 and Nasdaq 100 futures rose. Japan and China are closed for holidays. The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, rose over 0.5% to 17,073 points as of 7:00 am.
The Fed later today is expected to raise interest rates by 50 basis points and detail plans for the reduction of its balance sheet. Key for markets will be Fed Chair Jerome Powell’s commentary, which might contains hawkish surprises.
In commodities, oil was at about $103 a barrel and gold was little changed. Bitcoin hovered around $38,000.
Earnings Post-Market Hours
Hero MotoCorp Q4 FY22 (Standalone, YoY)
Revenue fell 15% to Rs 7,421 crore (BBG estimate: Rs 7,465 crore)
Net profit fell 28% to Rs 627 crore (BBG estimate: Rs 625 crore)
Ebitda down 32% at Rs 828 crore (BBG estimate: Rs 877 crore)
Margin at 11.2 % vs 13.90% (BBG estimate: 11.75%)
Adani Wilmar Q4 FY22 (Consolidated, YoY)
Revenue up 40% at Rs 14,960.37 crore
Net profit fell 26% to Rs 234.3 crore
EBITDA rose 21% to Rs 425.72 crore
Margins at 2.8% versus 3.3%
Jindal Stainless Q4 FY22 (Consolidated, YoY)
Revenue up 68% at Rs 6,563.51 crore Vs Rs 3,913.64 crore
EBITDA up 55.2% at Rs 841.59 crore Vs Rs 542.22 crore
EBITDA margin 12.82% Vs 13.85%
Net profit up 154% at Rs 735.53 crore Vs Rs 289.19 crore
Approved transfer of entire stake in JSL Ferrous, wholly owned subsidiary of the company to Jindal United Steel, associate company.
Castrol India Q4 FY22 (Consolidated, YoY)
Revenue up 8.5% at Rs 1,235.7 crore Vs Rs 1,138.7 crore
EBITDA fell 6.7% at Rs 317.20 crore Vs Rs 340.1 crore
EBITDA margin 25.67% Vs 29.87%
Net profit fell 6.2% at Rs 228.4 crore Vs Rs 243.6 crore
Britannia Industries Q4 FY22
Revenue up 13% at Rs 3,550.45 crore Vs Rs 3,130.75 crore (Bloomberg Estimate: Rs 3,457.8 crore)
Net profit up 4% to Rs 379.87 crore from Rs 364.32 crore (Bloomberg Estimate: Rs 378.76 crore)
EBITDA up 8.7 % to Rs 549.68 crore Vs Rs 505.39 crore (Bloomberg Estimate: Rs 526.51)
Margins at 15.5% Vs 16.1% (Bloomberg Estimate: 15.2%)
M&M Financial Services Q4 FY22 (Consolidated, YoY)
Revenue fell 4.8% at Rs 2,865.08 crore Vs Rs 3,007.26 crore
EBIT up 31% at Rs 1,882.42 crore Vs Rs 1,436.57 crore
EBIT margin 65.7% Vs 47.77%
Net profit up 188% at Rs 623.78 crore Vs Rs 216.34 crore
Recommended dividend of Rs 3.6 per share of face value of Rs 2 each
JBM Auto Q4 FY22 (Consolidated, YoY)
Revenue up 44% at Rs 1072.29 crore Vs Rs 744.88 crore
EBITDA up 46% at Rs 123.05 crore Vs Rs 84.18 crore
EBITDA margin 11.48% Vs 11.3%
Net profit up 165% at Rs 85.63 crore Vs Rs 32.24 crore
Recommended final dividend of Rs 1 per share on face value of Rs 2 each
Alembic Pharmaceuticals Q4 FY22 (Consolidated, YoY)
Revenue up 9% at Rs 1,426 crore Vs Rs 1,306 crore (Bloomberg Estimate: Rs 1,254 crore)
EBITDA down 51% to Rs 170 crore from Rs 346 crore (Bloomberg Estimate: Rs 243 crore)
Margins at 11.9% Vs 26.5% (Bloomberg Estimate: 19.3%)
Net profit down 86% at Rs 34 crore from Rs 251 crore (Bloomberg Estimate: Rs 154 crore)
EPS at Rs 1.8 per share vs Rs 12.75 per share (Bloomberg Estimate: Rs 7.3)
Stocks To Watch
SpiceJet: The Directorate General of Civil Aviation grounded Spicejet Boeing 737-800 jets after severe turbulence incident. DGCA is also inspecting air carrier’s entire fleet.
PowerGrid: The company approved acquisition of 77,30,225 equity shares of IL&FS Energy Development Company in Cross Border Power Transmission Company. CPTCL is a joint venture of Power Grid Corporation of India Limited (26%), Satluj Jal Vidyut Nigam Limited (26%), Nepal Electricity Authority (10%) and IEDCL (38%).
Voltas: The company entered into a joint venture with Highly International (Hong Kong), a wholly owned subsidiary of Shanghai Highly (Group) Company, to engage in the business of design, development, manufacture, marketing, sale and service of inverter compressors for room air-conditioners, motors for inverter compressors, and their associated parts including sourcing of raw materials and components required for manufacturing these products.
Hindustan Zinc: The company has signed a memorandum of understanding with Sweden based Sandvik for supply of a battery-electric underground equipment fleet to be used at Sindesar Khurd Mine.
Bombay Dyeing: Chief Financial Officer Hitesh Vora resigned effective August 2.
Aurobindo Pharma: Says Unit Eugia Pharma gets approval for Bortezomib for injection.
Macrotech Developers: To merge nine-units with itself.
NMDC: April sales 3.12 million tonnes Vs 3.09 million tonnes YoY.
Zydus Lifesciences: Gets U.S. FDA approval for Bortezomib for injection.
Earnings Today: Adani Total Gas, Adani Green Energy, Tata Consumer Products, Kotak Mahindra Bank, IIFL Wealth Management, ABB India, Havells India, Equitas Small Finance Bank, EIH Hotels, Deepak Nitrite, SIS, Rain Industries, Oracle Financial Services Software, MAS Financial Services, Laxmi Organic Industries, Cigniti Technologies, Bombay Dyeing, Aptech
Pledged Shares Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 5 lakh shares on April 28.
Future Consumer: Promoter Future Capital Investment invoked a pledge of 8.05 crore shares on April 26.
Escorts India: Ishares Core Total International Stock Mauritius Co. Sold 13.33 lakh (1.01%) shares at Rs 1580.75 apiece.
Future Consumer: Vistra ITCL India sold 1.33 crore (0.66%) shares at Rs 2.42 apiece.
Price Band Revised From 10% To 5%: Future Lifestyle Fashions, Veranda Learning Solutions
Price Band Revised From 5% To 10%: Nitin Spinners
Price Band Revised From 20% To 10%: Aditya Birla Sun Life Amc, Clean Science And Technology, Glenmark Life Sciences, G R Infraprojects, Gufic Biosciences, Indostar Capital Finance, Just Dial, Macrotech Developers, Vedant Fashions, Ruchi Soya Industries, Shyam Metalics And Energy, Sterling And Wilson Renewable Energy, Tatva Chintan Pharma Chem, Tega Industries, Ujjivan Small Finance Bank
Ex-Date Interim Dividend: Gateway Distriparks
Ex-Date Extraordinary Meeting: Sindhu Trade Links
Money Market Update
The rupee ended Rs 76.51 at against the U.S. Dollar on Monday as compared to Friday's closing of 76.43
Nifty May futures ended at 17,080, a premium of 10.90 points.
Nifty May futures added 4.85% and 8,550 shares in Open Interest.
Nifty Bank May futures ended at 36,205, a premium of 41.25 points.
Nifty Bank May futures shed 1.29% and 1,351 shares in Open Interest.